said by fiberguy :

Only difference, is that I didn't go back to say more of the same inaccurate garbage. I simply made a comment. Call if "off topic".. so my point stands..

said by KrK :

Nope, they didn't. Again, no requirement or law or rule saying "give loans to people who can't pay them back."

said by uid1307457 :

Did you know there are more outsource companies in the USA than there are outsource companies in India? I work for one...try researching before making stupid remarks.

said by KrK :

Uh oh. Ran into a problem with being able to counter the facts and logic, eh? So have to result to extreme hyperbole? :D

said by fiberguy :

Fanny and Freddie were train wrecks. It most certainly played a HUGE part in the melt-down of the credit market. I won't even give you the benefit of an education, but it does make me sick to see people spewing talking points that were generated by people that were clueless.

said by KrK :

A free market without Government "interference" has another name.

Anarchy.

said by KrK :

The Free Market is just as much an ideological myth as is the Communist market system.

Neither one ever has fully existed, and nor will they ever, as long as civilization is around to contain them.

Neither one is capable of success alone because they don't properly take into account human nature and true economic costs.

said by pnh102 :

That's right. Capitalism is supremely evil and it failed. We need to just have the government run everything so it can never fail again. We just gotta totally demonize capitalism!

Capitalism would have fixed this banking "crisis" overnight had the banks that chose to make the bad loans simply been allowed to fail. The remaining banks would have learned to not do the same things the failed banks did, and life would continue.

I do agree with you that the current "crisis" isn't entirely the fault of things like the CRA... simply because there were many banks that did not lend money to people who were incapable of paying it back. However, capitalism swiftly and severely punishes companies which continually make bad business decisions. Now that we bailed out the failed banks, we can expect an even worse lending crisis.

said by psx_defector :

All companies pay minimum wage in it's professional services departments. It's called outsourcing to India.

Did you know outsourcing causes unemployment?

said by DaveNJ :

So forcing banks to loan to people who wouldnt or cant pay is good regulation in the long run. Did you learn nothing from the last year. I hope you make so serious money, so i can have some.

said by fiberguy :

If you think rates are too high now, and many people do, wait till you try to put controls on it and say "anything goes".. becuase you're going to pay for it.

said by Angrychair :

No matter what conservative talk radio may be telling you, regulation was the answer to solve what happened, not the culprit to blame.

said by KrK :

...divorced from access and content companies. Open access.

said by jsz0 :

I will take the (sometimes) greedy private sector over the government for my Internet access any day.

said by pnh102 :

Wasn't it Barney Frank who said that Fannie Mae and Freddie Mac were doing just fine?

said by major marco :

Government sponsored entities, such as Fannie Mae & Freddie Mac were not reigned in by Congress. Had Congre$$ not been asleep at the wheel and gorging themselves on lobbyist largesse representing financial/banking entities, the subprime mortgage clusterfucker would not be happening today.

said by Angrychair :

No matter what conservative talk radio may be telling you, regulation was the answer to solve what happened, not the culprit to blame.

said by DaveNJ :

What about the personal entitlement that becomes corporate entitlement. If anything the best solution is government getting out of way of business.

said by DaveNJ :

Here is another one... Banks forced to loan to high risk loan takers.

»www.lewrockwell.com/dilorenzo/di···125.html

---

Consequently, banks in every community in America have been forced to hold a portfolio of bad loans, euphemistically referred to as "subprime" loans. In order to compensate themselves for the added risk of extending these loans, many lenders have increased the lending fees associated with mortgage loans. This is simply an indirect way of doing what banks always do – and what they must do to remain solvent: charging effectively higher rates of interest on riskier loans.

---

said by DaveNJ :

What regulatory authority does America have in India ?

said by pnh102 :

Now that we bailed out the failed banks, we can expect an even worse lending crisis.

said by KrK :

Uh oh. Ran into a problem with being able to counter the facts and logic, eh? So have to result to extreme hyperbole? :D

said by pnh102 :

That's right. Capitalism is supremely evil and it failed. We need to just have the government run everything so it can never fail again. We just gotta totally demonize capitalism!

said by psx_defector :

If it's an American company outsourcing, it's fair to include those salaries to the mix, because we have to compete with their slave wages. And you asked about corporations using minimum wage for their employees, not corporations using minimum wage for their employees in the U.S. Since almost all Fortune 500 companies outsource to various slave wage countries, they all pay minimum wage or less.

No minimum wage laws would cause us to get work, yes, but at $.10 a day, 18 hours long.

said by Desdinova :

"slave labor wages, forced child labor, or poisonous and contaminated food products (all of which were conditions that government regulation reversed)."

said by major marco :

Didn't want to and were forced by regulation - LMAO. That's a good one. The 1930 Depression era regs that were in place to prevent clusterfucked housing meltdowns such as the one we are currently in were null & voided. It is the absence of those regs that enabled banks & mortgage companies to lend to buyers who shouldn't have been considered in the first place.

said by DaveNJ :

So forcing banks to loan to people who wouldnt or cant pay is good regulation in the long run. Did you learn nothing from the last year.

said by psx_defector :

All companies pay minimum wage in it's professional services departments. It's called outsourcing to India.

Did you know outsourcing causes unemployment?

said by DaveNJ :

But the banks DIDNT want to loan to these people, because it goes against good business practices, the problem was regulation.

said by DaveNJ :

Please list all the corporations using the minimum wage for there employees. Most professional aren't paid minimum wage.

Did you know the minimum wage causes unemployment.

said by major marco :

Riight. Because that has worked so very well for banks & mortgage companies....we need less oversight and more blind trust.

said by DaveNJ :

If anything the best solution is government getting out of way of business.

said by Desdinova :

"What about the personal entitlement that becomes corporate entitlement. If anything the best solution is government getting out of way of business."

The problem with that position is the assumption that the market won't make harmful choices, which is often not the case. Given a choice (which de-regulation allows) the market will pretty much make choices that ONLY favor the profit stream. I'm all for capitalism and profits but not when they're earned at the expense of slave labor wages, forced child labor, or poisonous and contaminated food products (all of which were conditions that government regulation reversed).

said by Angrychair :

You seem to be confused about what good regulation is. Good regulation is making sure things like credit default swaps are publicly disclosed.

I don't even know what you're talking about. The problem the country is in now has nothing to do with banks being forced to make bad loans (regardless of what rush might be telling you every afternoon) the problem the country has now is that mortgage lenders were way too eager to make bad loans and then pawn them off on someone else as solid mortgage backed securities.

But you're going way off topic. This is a discussion about national broadband and the advantages of a national infrastructure as opposed to the regional providers that provide substandard service right now.

said by RadioDoc :

Amtrak is not a good analogy...it would be more like a national ISP riding on others pipes since it doesn't own much of the infrastructure it uses.

A return to good old common carrier regulation would go a very long way to resolving this mess.

said by DaveNJ :

So forcing banks to loan to people who wouldnt or cant pay is good regulation in the long run. Did you learn nothing from the last year. I hope you make so serious money, so i can have some.

said by Angrychair :



More regulation is always better in the long run. Without someone waiting to kick you in the ass for stepping out of line the world quickly spirals to the lowest common denominator. That is, if you're even alive to see it when it gets there.

said by Angrychair :

Help with getting rid of the corporate entitlement complex that pervades american culture by forcing competition.

said by Angrychair :

Help with getting rid of the corporate entitlement complex that pervades american culture by forcing competition.

said by KrK :

Amtrak can't do what nationwide FTTH could do.